has ng converted his options yet?, page-9

Pistol, I think you may be surprised with how many may convert before the Garlings. You only have to look at the small volume of shares sold in the months after the mining halt last year to realise that the holders of this stock aren't short term traders with short attention spans. They are very solid, long term investors who believe that MCO is literally sitting on a goldmine. Indeed all the HC True Believers knew of the mining halt 2 trading days before it became public knowledge but held strong instead of murdering the SP.
That said I would love to see NG convert at least some of his. I would have thought 3Bs would have to be released when conversions happen but can't remember one last quarter when some were, so maybe it's not a rule.
Regarding the ore on surface, here's what we know.
- they are dead set against toll processing for a variety of very valid reasons.
- I would expect they are testing the mined ore for both grade and recovery through various processing options.
- I would also expect discussions with the DPI and Dep of Environment would be taking place.
- there is quite a lot of room at the mine site to stockpile ore, so extraction can continue for an extended period without problems.
When extraction from Maxwells reef was initially mooted a mining rate of 1000t per 28days was expected so by the time a plant is ready to go there should be a pretty nice pile to process. The grade testing should tell an interesting tale as to what g/t may be expected through the plant.
I hope this helps, sorry to be long winded and many will know most of what has been posted but there are always newly interested people who may appreciate the background.

Cheers Mal